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PhotronicsPLAB -0.69%89 Earnings Yield (Joel Greenblatt) % is 9.02% as of Apr. 2026, which is 22% below its 10-year median of 11.51. GuruFocus rates PLAB with a GF Score™ of 89/100 and a GF Value™ of $25.44 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 1,024 Semiconductors companies, Photronics ranks better than 94.82% on this metric.
Photronics's Enterprise Value for the quarter that ended in Apr. 2026 was $2,695.8 Mil.
Photronics's EBIT for the trailing twelve months (TTM) ended in Apr. 2026 was $243.1 Mil. Photronics's Earnings Yield (Joel Greenblatt) for the quarter that ended in Apr. 2026 was 9.02%.
The historical rank and industry rank for Photronics's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
PLAB'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.93 Med: 11.51 Max: 32.9
Current: 16
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Photronics was 32.90%. The lowest was 4.93%. And the median was 11.51%.
PLAB's Earnings Yield (Joel Greenblatt) % is ranked better than 94.82% of 1024
companies
in the Semiconductors industry
Industry Median: 1.27
vs PLAB: 16.00
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Photronics's Forward Rate of Return (Yacktman) % for the quarter that ended in Apr. 2026 was 15.67%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Photronics Earnings Yield (Joel Greenblatt) % Related Terms
Photronics Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Photronics's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Semiconductor Equipment & Materials subindustry, Photronics's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Photronics Earnings Yield (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Photronics's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Photronics's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Photronicss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Oct. 2025 is calculated as
Photronics's EBIT for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $243.1 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 9.02% mean?
Photronics (PLAB) has a Earnings Yield (Joel Greenblatt) % of 9.02% as of Apr. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Photronics and its competitors. This is 22% below median its historical median of 11.51. Over the past decade, Photronics' Earnings Yield (Joel Greenblatt) % has ranged from 4.93 to 32.90. According to the industry distribution chart, Photronics ranks #53 out of 1024 companies in the Semiconductors industry, placing it in the top 5.2%.
Is Photronics' Earnings Yield (Joel Greenblatt) % too high?
Photronics' current Earnings Yield (Joel Greenblatt) % of 9.02% is 22% below median its 10-year median of 11.51. Over the past 10 years, this metric has ranged from a low of 4.93 to a high of 32.90. The Semiconductors industry median Earnings Yield (Joel Greenblatt) % is 1.27. Photronics' value of 9.02% is 610.2% above this industry median. Based on the distribution chart, Photronics ranks #53 out of 1024 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Photronics has a GF Score™ of 89/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Photronics' Earnings Yield (Joel Greenblatt) % compare to AMBA and DQ?
According to the Semiconductors industry distribution chart, Photronics ranks #53 out of 1024 companies for Earnings Yield (Joel Greenblatt) %. This places Photronics in the top 5% of its industry — outperforming the majority of peers. The industry median Earnings Yield (Joel Greenblatt) % is 1.27. Photronics' value of 9.02% is 610.2% above this benchmark. Historically, Photronics' own Earnings Yield (Joel Greenblatt) % has ranged from 4.93 to 32.90 over the past decade. While the company's 10-year median is 11.51 vs. the industry median of 1.27, Photronics has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Earnings Yield (Joel Greenblatt) % for a Semiconductors company?
The median Earnings Yield (Joel Greenblatt) % among Semiconductors companies is 1.27, based on 1,024 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Photronics's current Earnings Yield (Joel Greenblatt) % of 9.02% is 610.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Photronics and its competitors. For the Semiconductors industry, the median Earnings Yield (Joel Greenblatt) % is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Photronics's current Earnings Yield (Joel Greenblatt) % is 9.02%, which is 22% below median its own 10-year median of 11.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Photronics stock overvalued right now?
Based on GuruFocus' analysis, Photronics (PLAB) is currently considered Modestly Overvalued. The stock's GF Value™ is $25.44, compared to a current price of $28.85 — trading 13.4% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 9.02%, which is 22% below median its 10-year median of 11.51 and 610.2% above the Semiconductors industry median of 1.27. Photronics' overall GF Score™ is 89/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Photronics (PLAB), the current Earnings Yield (Joel Greenblatt) % is 9.02% as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Photronics (PLAB) Overvalued in 2026?
Based on GuruFocus' analysis, Photronics stock appears to be overvalued.
The current stock price of $28.85 is trading 13.4% above its estimated GF Value™ of $25.44.
GuruFocus considers Photronics to be Modestly Overvalued.
Key valuation signals for PLAB:
Earnings Yield (Joel Greenblatt) %: 9.02% (22% below median its 10-year median of 11.51)
GF Value™: $25.44 vs. price of $28.85 (13.4% above fair value)
Industry Position: 610.2% above the Semiconductors median (#53 of 1024)
No single metric tells the full story. See the PLAB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Photronics Inc is a U.S.-based company principally engaged in the manufacturing of photomasks, which are high-precision photographic quartz or glass plates containing microscopic images of electronic circuits. Photomasks are a key element in the manufacture of integrated circuits (ICs) and flat-panel displays (FPDs) and are used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during fabrication, as well as to a lesser extent, other types of electrical and optical components. The Company has manufacturing facilities in Taiwan, China, South Korea, the United States, and Europe, and generates revenue globally, with Taiwan contributing the majority of total revenue.
89GF Score
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